Minimizing State Income Tax Using Trusts

Jeffrey C. Wolken |
Emerald GEMs

February 9, 2021—Many people are familiar with personal trusts because they are common estate planning vehicles. However, a lesser known fact is personal trusts may also be used to minimize state income tax liabilities. By holding your wealth inside a trust, you may limit the ability of your home state to tax the trust’s income. In today’s podcast, National Director of Delaware Trust Planning, Jeff Wolken, discusses the steps you can take to mitigate state income tax.

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Video: Why the First State Remains the Top Choice for Personal Trusts

Jeffrey C. Wolken |
Wealth Planning
Heckerling Wolken.png

Delaware was the first state to pioneer many innovative trust laws, but the competition for trusts is fierce among the states. Wilmington Trust’s National Director of Delaware Trust Planning Jeff Wolken sits down with Editor in Chief of Trusts & Estates magazine, Susan Lipp, at the 54th Annual Heckerling Institute on Estate Planning to share his insights on how Delaware sets itself apart from other states.Please see important disclosures at the end of the video.

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